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Business cycle accounting is an accounting procedure used in macroeconomics to decompose business cycle fluctuations into contributing factors. The procedure was introduced by V. V. Chari, Patrick Kehoe and Ellen McGrattan but is similar to techniques introduced earlier. The underlying premise of the procedure is that the economy has a long run trajectory which is perturbed by various frictions. These are called wedges and the earliest version of the procedure includes a productivity wedge, a labor wedge, an investment wedge and a government consumption wedge. Business cycle accounting decomposes fluctuations in macroeconomic variables, such as GDP or employment, into fluctuations of each of these wedges (and their combinations). Business cycle accounting has been done for various countries and various periods of time. The procedure suggests for the U.S. after World War II most fluctuation in GDP is due to fluctuations in the productivity and labor wedges. ==References== *Chari, V. V., Patrick J. Kehoe and Ellen R. McGrattan. ''Business Cycle Accounting''. Econometrica, May 2007. *McGrattan, Ellen R., V. V. Chari and Patrick J. Kehoe . ''Comparing Alternative Representations, Methodologies, and Decompositions in Business Cycle Accounting''. Federal Reserve Bank of Minneapolis. Staff Report 384. *Christiano, Lawrence J. and Joshua M. Davis 2006. ''Two Flaws In Business Cycle Accounting''. NBER Working Paper 12647. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Business cycle accounting」の詳細全文を読む スポンサード リンク
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